Chinese state-owned company financed purchase of Nvidia Blackwell servers
A Chinese leasing company owned by local authorities paid for the purchase of more than 700 servers, including devices with Nvidia B300 chips. At the same time, Nvidia is in talks with insurers about transferring the risks of lending secured by its accelerators, and Chinese chip stocks fell to a yearly low.
Sources
· 8Китайская госкомпания профинансировала закупку серверов Nvidia Blackwell
1Nvidia ведёт переговоры со страховщиками о переносе рисков финансирования ИИ-чипов
2Китайские акции упали до годового минимума на фоне снижения чиповых и оптических компаний
3Падение оценки Nvidia сигнализирует о сомнениях рынка в росте прибыли
4Сообщается, что Китай рассматривает разрешение ByteDance и Alibaba покупать чипы Nvidia
5План Nvidia по финансированию под залог чипов встретил скептицизм Уолл-стрит
6ByteDance и Tencent получили примерно по 10 000 чипов Nvidia H200, Пекин ослабил импортный блок
7Chinese Stocks Hit One-Year Low as Chip, Optical Firms Slide - Bloomberg
8Key points
- Chinese state-owned company Semi-Tech Leasing Group financed the purchase of more than 700 servers, including 32 Asustek servers with Nvidia B300 chips.
- Nvidia is in talks with insurers about transferring the risks of lending secured by its chips; the talks are at an early stage.
- The CSI 300 Index fell 2.4% to a yearly low, with chip and optical component makers leading the sell-off after reports of a possible approval of Nvidia purchases and U.S. sanctions.
- Nvidia shares are trading at a forward price-to-earnings ratio below 17, half the 2025 level.
- Earlier, Nvidia's plan to raise $500 billion in financing secured by chips met with skepticism on Wall Street.
What happened
In parallel, Nvidia held talks with insurance companies about taking on part of the risks of lending secured by its chips. The discussions include insuring losses on loans to cloud computing startups (“neocloud”) if they default and the pledged chips cannot be resold to repay the debt. The talks are at an early stage and may not lead to deals.
On Monday, the benchmark CSI 300 Index fell 2.4% and hit a yearly low. Technology companies led the sell-off, with chipmakers and optical component makers among the biggest decliners.
Nvidia shares are trading at a forward price-to-earnings ratio below 17, close to the lowest level in more than a decade, according to Bloomberg data. That multiple is half what it was in 2025 and has fallen from more than 25 times expected earnings as recently as May. The valuation decline persists despite the shares finishing a five-session winning streak on Monday amid a broader recovery in the semiconductor sector.
What changed
Earlier, Nvidia's plan to raise $500 billion in financing secured by chips ran into skepticism from Wall Street lenders and investors. Some banks demanded stronger guarantees than Nvidia initially offered, even for its advanced AI processors. Nvidia is now in talks with insurers about taking on part of the risks of lending secured by its chips.
Earlier
- The Chinese government has signaled it may allow ByteDance and Alibaba to buy Nvidia's new chip for high-performance professional computers, The Information reported.
- ByteDance and Tencent have each received about 10,000 Nvidia H200 accelerators in recent weeks — the first significant inflow of chips into mainland China since December.
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